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Seems that he was in a rush to put his face on the "dramatic" MF Global turnaround in order to get that spot as Odumbo's next Treasury Secretary. His miscalculation was that MFG was not a "too big to fail" and so he fell flat on his face instead.

You're right. You've been providing the bulk of the wrong information on this site for quite awhile. Maybe a touch of humility is in order.

Says the guy who "took five years off" from trading. Admit it, you just wrote about yourself.

Yep, Scat is just another baby boomer "tit sucker" in a general sense. Quoting his grandfather who lived thru the Depression is a nice special effect, but it doesn't fool some of us. A broken record of the same tired tripe over and over again.

I hear the exact same thing from every baby boomer. Kind of a sick attitude. And there is no possible way that there is 40 years left in this thing. So, the boomers will have to suffer like everyone else.

Yeah, it would be a death blow to the futures industry, but at the same time I'm getting that sinking feeling that we've reached the point where they are cannibalizing themselves. Essentially, the industry has run out of greater fools (i.e. retail money is long gone). Now we've moved onto the...

Turn this one into a poll. It's a good question.

They pledged their sovereign debt holdings for the repo correct? Hence, the demands for further collateral.

Well, if you believe history is cyclical, it's quite possible the kids in their teens now will turn into your grandpa 50-60 years from now after we get thru the second Depression.

At the TBTF banks, I suspect it would never be made public and would be a backdoor bailout. Perhaps a few bloggers would be able to sniff it out, but as we all know if the MSM doesn't run the story, they can create an aire of disbelief and call it "baseless speculation". The only profit...

Bingo. It's a pattern all political matters. Make a lot of noise, some cage rattling and quench the blood thirst of their constituents for "change", but continue the status quo at all costs.

Right, they aren't sophisticated enough for that, instead they got stuck in a failed loan to a racetrack. Is that supposed to re-assure people?

5 years ago, 90% of the people on here would call you a nut job if you ever thought central banks and their cronies routinely collude to "put a bid" under xyz market. There are some myths that people will defend to their graves.

It was decided on Oct 1 that the market would rally. Now that the news doesn't support the continued bouts of Hopium about growth and fairy tales and other assorted delusions, the market can't just fall to pieces, new stories need to be manufactured to explain how "such and such" negates "this...

OPS, please move to chit chat as this is not fit for board discussion.

It should be parsed with "IF we get thru the next 18-24 months". I swear these blind optimists must be popping pills or part of the millions on anti-depressants.

This is true, BUT that pardon occurred years after Rich had left the country AND it was a completely different political climate. Obama, OTOH, is the biggest poltical klutz I've ever seen. At every turn, the guy is caught with his pants down. Whether it's his failed bid for the Olympics...

Hope it works out for you, you have my sympathies for going thru this kind of shit. Just sort of thinking it thru though and I'm wondering exactly what the protocol is for an event such as this. If some customer money is missing, how exactly do they transfer 100% of another customer's money...

Someone care to refresh my memory on Sentinel and that whole drama a few years back. If I remember correctly that was another episode of chasing yield that almost ended in a bunch of smaller disasters.

Yeah, sounds like a run around. Play it smart though and don't ever just send it in if they are being that evasive about giving you a straight answer.